Tag Archives: Truss
Let’s not celebrate anything about the pension disaster of Sept 2022.
Yesterday the Pension Regulator came out with the heartening news that our pension schemes are in surplus of the most part. Corporate Adviser report David Hamilton, chief actuary at Broadstone who tells us “This analysis formally evidences the step change … Continue reading
TPR still checking the cost of leveraged LDI
In the first 20 years of this century, DB pension schemes were told to “de-risk” by loading up on what was referred to as “risk-free” investments – long term and inflation linked gilts. “Loading up” meant borrowing money to buy … Continue reading
Pensions are the poorer for Putin and Truss
“From February’s Russian invasion of Ukraine to the gilt market meltdown in October, 2022 pension schemes find themselves in a much healthier position than at the start of the year”. So here’s to economic incompetence and state sponsored terror https://t.co/qtQTHDerbI … Continue reading
The fall-out from LDI will dominate DB pensions in 2023
The FT has published a piece this morning suggesting a “blame game” between consultants and the providers of LDI solutions. Was it the providers or the advice given by investment consultants on implementation and management of leveraged LDI strategies … Continue reading
Will Truss Evolve or Revolve?
I spoke with a former Treasury mandarin during the recent PM selection period who had worked under Truss and Sunak. She said the difference was “chalk and cheese” with Sunak a diligent minister who paid attention to detail while Truss … Continue reading
The cost today of these reckless budget promises
“It looks like we’re headed for a spiral that we usually see in emerging markets crises, where policymakers struggle to reassert credibility,” Mansoor Mohi-uddin, chief economist at Bank of Singapore. Currency markets are now toying with the idea … Continue reading
Posted in pensions
Tagged Chancellor, Dollar, Kwasi Kwarteng, pension, pound, Sunak, Truss
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Pension politics are back – will they be noisy?
It is two-and-a-half months – 76 days – since Boris Johnson said he was resigning as prime minister, draining his already crippled government of its remaining authority. And then, a little over 48 hours after Liz Truss became prime … Continue reading
Squeaky-bum time at the DWP
We should hear within the next few days the team on ministers and junior ministers that will support Chloe Smith, the new Secretary of State for Work and Pensions. Will Guy Opperman be reappointed to his post as Minister for … Continue reading
Posted in pensions
Tagged Chloe Smith, DWP, Guy Opperman, Liz Truss, Pensions, Rish Sunak, Truss
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Are comforting lies – crushing unpleasant truths? (Truss v Sunak)
These are the latest odds for our next Prime Minister, the return for Sunak to a £1 stake is 900p for Truss it is 11p. My simple maths tells me the market reckons Truss 80 times more likely to win. … Continue reading
Liz Truss – shorter than Baaeed.
Baaeed is the top-rated thoroughbred racehorse in the world. Yesterday he trounced his rivals in Goodwood’s Sussex Stakes at a price of 1-6, delivering just 17p profit to a one pound stake. This morning , Liz Truss is priced … Continue reading